Bancorp (NASDAQ:TBBK) Director Stephanie Mudick Purchases 1,000 Shares of Stock

The Bancorp, Inc. (NASDAQ:TBBK) Director Stephanie Mudick acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was purchased at an average cost of $47.49 per share, with a total value of $47,490.00. Following the completion of the purchase, the director directly owned 45,150 shares in the company, valued at $2,144,173.50. This represents a 2.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Bancorp Price Performance

Bancorp stock traded up $0.51 during midday trading on Friday, reaching $48.25. 415,037 shares of the company were exchanged, compared to its average volume of 521,706. The firm’s 50-day simple moving average is $52.04 and its 200-day simple moving average is $58.13. The Bancorp, Inc. has a 1 year low of $45.08 and a 1 year high of $73.02. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 8.51 and a beta of 1.20. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.87 and a current ratio of 0.88.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, October 29th. The bank reported $1.47 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.47. The firm had revenue of $135.89 million during the quarter, compared to analysts’ expectations of $154.86 million. Bancorp had a return on equity of 34.29% and a net margin of 30.13%. On average, analysts anticipate that The Bancorp, Inc. will post 5.99 EPS for the current year.

Institutional Trading of Bancorp

A number of hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC purchased a new stake in Bancorp in the second quarter valued at approximately $25,000. Eurizon Capital SGR S.p.A. acquired a new position in Bancorp in the 3rd quarter worth approximately $26,000. Versant Capital Management Inc raised its position in Bancorp by 177.3% during the 3rd quarter. Versant Capital Management Inc now owns 1,198 shares of the bank’s stock worth $58,000 after buying an additional 766 shares during the last quarter. Sterling Capital Management LLC raised its position in Bancorp by 840.4% during the 3rd quarter. Sterling Capital Management LLC now owns 1,326 shares of the bank’s stock worth $64,000 after buying an additional 1,185 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in Bancorp by 4,089.7% during the 3rd quarter. Parallel Advisors LLC now owns 1,634 shares of the bank’s stock valued at $79,000 after acquiring an additional 1,595 shares during the period. Institutional investors and hedge funds own 96.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Weiss Ratings raised shares of Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $79.00 target price (up from $77.00) on shares of Bancorp in a report on Monday, August 3rd. Raymond James Financial restated an “outperform” rating and set a $57.00 price target on shares of Bancorp in a research report on Tuesday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $60.00 price target on shares of Bancorp in a report on Tuesday, October 20th. Finally, Stephens reaffirmed an “equal weight” rating and set a $59.00 price target on shares of Bancorp in a report on Wednesday, October 21st. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $63.88.

About Bancorp

The Bancorp, Inc (NASDAQ:TBBK) is a financial technology-focused bank holding company headquartered in Wilmington, Delaware. Through its principal subsidiary, The Bancorp Bank, N.A., the company provides banking and payment services primarily through partnerships with fintech companies, businesses, and other institutional clients rather than through a traditional branch network.

The company’s services include payment processing, prepaid and debit card programs, card issuance, automated clearing house (ACH) and other electronic payment solutions, deposit accounts, and commercial lending.